Her term formally ends in July and the IMF has begun accepting nominations to see who will lead the crisis lender over the next five years.

Speaking at Davos Lagarde announced her intention to stand:
“Yes I am candidate to a second mandate. I was honoured to receive from the start of the process the backing of France, Britain, Germany, China, Korea, Mexico.”

Earlier in the week British Chancellor of the Exchequer George Osborne tweeted his support for Lagarde.

However, it is not all plain sailing she could stand trial in France for her alleged role in a banking scandal before she took up the reins of the IMF.

Simon French is the Chief Economist at Panmore Gordon and believes Lagarde will survive and prosper:“Well it’s a worry isn’t it. But there is an ability for politicians, particularly with a French background to navigate public office while also dealing with challenges at home.”

Lagarde guided the IMF as the eurozone was plunged into crisis and her cool head has won her many admirers in the financial world.